Early repayment is permitted at any point during the loan term. There is no lock-in requiring you to serve the full term, and many companies choose to settle when cash flow allows.
Requesting a settlement figure
To repay early, contact us through the client portal or by email and request a settlement figure. We will calculate the amount needed to clear the outstanding balance in full as at a specific date. The figure accounts for any early repayment charge that applies under your agreement — this will have been disclosed in your loan documentation before you signed.
Making the payment
Settlement is made by bank transfer to the account details provided in your settlement letter. Once funds are received and cleared, the direct debit mandate is cancelled and a confirmation of full repayment is issued to your registered email. Do not cancel the direct debit yourself before settling — doing so does not close the loan and may result in a missed scheduled payment being recorded.
Impact on the total cost
Settling early means fewer instalments are collected. Depending on your agreement, this may reduce the total amount paid compared with running to the full term — or an early repayment charge may partially offset that saving. Your settlement letter will show the exact position clearly.
We lend only to UK limited companies and LLPs, and the loan is to the company with no director personal guarantee. As business finance outside the consumer-credit regime, it is not covered by the Financial Ombudsman Service or FSCS.
See also: What happens at the end of the loan term?, How does the repayment schedule work?.